Community fund

Over the life of the scheme, Miller Argent expect to contribute in the order of £10m in to a community fund. This is a special fund created and managed by Merthyr Tydfil County Borough Council specifically for monies from this project only. The fund is to be administered by the Council, with specific responsibility being given to Mr Hugh O'Sullivan of the Finance Department. Whist Miller Argent can offer views and make recommendations for the distribution of such funds, it is ultimately the Council who will decide upon the application of the monies that will be accrued.

The fund will be built up with royalty payments paid by Miller Argent as the scheme progresses. For every tonne of coal sold, a payment of £0.60p will be made (quarterly in arrears) into the fund. In addition, depending on coal prices up to a further £0.40p per tonne will be made on top of the £0.60p, taking it up to a potential £1 per tonne of coal sold. However, before any of the additional monies are paid ( i.e. the £0.40p/t), certain costs incurred by Miller Argent are to be repaid. These are fixed costs and have been agreed with the Council.

For details of how to apply for monies from this fund, please contact Hugh O'Sullivan (Finance Department) at Merthyr Tydfil County Borough Council, Civic Centre, Castle Street, Merthyr Tydfil, CF47 8AN.